Company Detail Overview
Address Visit Overview
Directors Detail Overview
Adverse Media Mapping
Litigation and Database Checks
Comprehensive Company Background Check
What Does Vendor Due Diligence Involve?
Vendor due diligence places obligations on both the third-party auditor and
the target company and entails a range of crucial business considerations,
including AML/CFT-specific factors. The processes and information that
the vendor due diligence process requires include:
General target company information, such as geographic location, taxpayer
number, operational capacity, incorporation documents, and legal status.
Beneficial ownership of the target company.
The target company’s historical financial information.
The target company’s cash flow, including expenditure on assets.
An evaluation of business risk and projected growth.
The target company’s debt, contingencies and other liabilities.
The target company’s operational compliance performance.
More specific AML-related due diligence might include:
Screening for risks specific to the company or the industry in which it operates, such as third-party relationships or the regulatory environment.
Screening for sanctions, watch lists and other restrictions placed against the company by governments and international authorities.
Screening for political connections that may expose the target company to a higher risk of money laundering.
Screening for negative news media against the target company.
Vendor Due Diligence Best Practice
Important factors that firms must consider when preparing for the vendor due diligence process, or engaging a third-party organization to perform an audit, include:
Data collection: The vendor due diligence process will require the collection and management of large amounts of information.
Monitoring : Certain due diligence screening processes, such as negative news media screening, require ongoing monitoring tools capable of capturing a range of data points.
Verification: Information generated and collected during vendor due diligence must be reliably checked for accuracy.